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UK - Section 793

Shareholding disclosure monitoring and reporting services for Section 793 (The UK Companies Act 2006)

Section 793 Notice

Section 793 of the 2006 Companies Act allows public companies to issue a notice requiring a person it knows or has reasonable cause to believe, has an interest in its shares (or to have had an interest in the last three years) to confirm or deny that fact. Should a person have an interest in the shares, they must disclose select information about their interest, including information about any other person with an interest in the shares.

Filing Requirements

Issuer Requests are ad-hoc inquiries made by public companies asking investors about their holdings in their equity. As a result, there are no uniform requirements - each request will specify particulars (net equivalent shares, voting rights, transactions, etc.) that investors must disclose in a reasonable time as stated in the notice. 

Typically, issuer requests are carried out by a third party acting on behalf of the company seeking information on investor holdings. For a Section 793 request, the disclosure should be made to a law firm or whoever is conducting the requests on behalf of the issuer. Should an investor not comply with the request and not provide the required information, the FCA would have legal means to get involved. In the UK, investors have a legal obligation to provide the information requested by the issuing company, and failure to do so can result in Regulator imposed fines and/or sanctions.

About the FCA

The Financial Conduct Authority (FCA) regulates the financial services industry in the UK. It operates independently from the UK Government and is financed by charging fees to members of the financial services industry. 

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